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ROGER McCRORY: 71, retired, Palm Harbor
By Times Staff Writer
Published June 26, 2005
How did you get started in investing?
I was in the Navy and bought some General Motors stock on a monthly investment plan, about 1957 or 1958. It went up, so I thought I knew something.
What is your best investment so far?
A health care REIT, HCN. It has about tripled.
What is your worst investment so far?
WorldCom. I got out at $56 and felt lucky.
What have you learned about investing that you think all investors should know?
Don't trade quickly. Buy something and hang on to it. Patience is the hardest thing to learn.
How would you describe your approach to investing?
I'm conservative, I guess. It's hard to make it back at 71.
What do you find the most difficult about investing?
Finding something that's not overvalued. I tend to be fairly conservative: Coca-Cola, Procter & Gamble. Getting good information. I was a broker for almost 38 years, and even from that viewpoint, getting good information is tough. You almost have to do it yourself.
What changes, if any, have you made in your investments in the past year?
Right now, I guess I'm about 45 percent in stocks, most of which pay dividends, the rest in CDs, money markets. I've tried to get to 65 percent fixed income and 35 percent stocks. Roughly, you want it to be a reciprocate to your age from 100. It's hard to do. You get to like some of these (stocks).
Do you think now is a good time to invest?
It almost always is if you can pick the right stock or the right bond. You can invest any time, but these days you have to be more and more careful. There were two or three hedge funds when I was in the business; now there's about 8,000.
What is your goal for your investing?
To be able to live off my investments and have something left when I go off to the great beyond - for the grandchildren.
What is your biggest money concern right now?
Inflation - just trying to keep up with inflation.
Where do you get your investment tips?
I have a broker. I still keep in contact with people I worked with for 35 years. I read the Wall Street Journal, Money magazine, Barron's. CNBC will occasionally have a good idea.
[Last modified June 22, 2005, 20:09:01]
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